Vol. 18 No. 7 November 2019 `75 Pages 44 Transformation @ Karnataka Bank Digital, Phygital BFSI use of Media Vibrant Goa www.bankingfrontiers.com AI’s role in HR just short of decision-making Editor’s Blog N. Mohan Mobile : 9322895820 Email : [email protected] November 2019 - Vol. 18 No. 7 Group Publisher : Babu Nair Group Editor : Manoj Agrawal Editor : N. Mohan A robot for a CHRO Editorial visiting tech lead at a robotics and communications lab outside Kyoto in Japan, Mehul Dani, Ravi Lalwani, V. Raghuraman who also teaches at Osaka University, which is a 2-hour commute for him, has Research Editors A created a robotic duplicate of himself, which can actually handle his teaching Prof Venugopal Iyengar, V. Babu, duties, once activated from a computer at the university lab. While the robot is not Ratnakar Deole, W.A. Wijewardena, doing this ‘in absentia’ job still, such a Sanchit Gogia, K.C. Shashidhar, proposition is not far off. Dr L.S. Subramanian, Ajay Kumar Another case is that of K2, a humanoid developed by Tech Mahindra Advisor-Alliances and deployed at its Noida campus. K2 Ateeq Siddique is said to be taking up HR functions Marketing with a human touch. It is described Kailash Purohit, Jikkumon Philipose, as a machine with a perfect blend of Reshma Mandal knowledge and kindness, handling routine HR transactions and offering Events & Operations constant assistance to the HR team in Gautam Magare, Shirish Joshi, creating an enhanced employee experience. K2 uses artificial intelligence and can Stalin Saldhana, Pramod Jadhav, initiate a conversation without any need for wake-up commands. It can respond to Amit Gupta, Shweta Kadam, Ashish Verma, Wilhelm Singh, queries with text display along with speech. It can also address general and specific Natasha Vaz, Sneha Agrawal HR-related employee queries as well as handle personal requests for actions like providing payslips, tax forms etc. Design HR is one domain in which AI has gained huge presence. In the days to come, this Somnath Roy Choudhury is to peak and the involvement perfected. AI has already helped streamline several Published By HR processes and eliminated the need for human interference. Unlike humans, who Glocal Strategies & Services can influence decisions and show biases in their judgements, AI is dispassionate, fast D-312, Twin Arcade, Military Road, Marol, and efficient. Andheri (E), Mumbai 400059, India. There are several arguments for the use of AI in HR. Among these are that it can (i) Tel: +91-22-29250166 / 29255569 process applications faster and facilitate quicker appointments, (ii) identify vacancies Fax: +91-22-29207563 in the organization, then sift through job portals, identify the best-fit candidates, call them for interviews, even conduct interviews and finalize appointments, (iii) help create better retention and productivity by hiring candidates most suitable for a position, Printed & Published by Babu Nair on (iv) eliminate bias while hiring, (v) streamline onboarding with the use of chatbots, (vi) behalf of Glocal Strategies & Services and create better job descriptions, (vii) improve employee engagement and build better Printed at Indigo Presss (India) Pvt Ltd., relationships and (viii) save time by automating routine tasks. Plot No. 1C/716, Off Dadoji Konddeo Cross The question that arises is whether AI can fully take over HR departments like in a Road, Between Sussex and Retiwala Indl. fully automated shopfloor. The answer is not yet, mainly because AI is still incapable Estate, Byculla (E), Mumbai 400027. of showing human empathy, emotions and personal judgment. Our cover story in this issue discusses how HR is increasingly becoming AI-dependent, and thereby efficient Editor: N. Mohan (Responsible for selection and transparent. HR professionals who have expressed their opinions maintain HR, in of news under PRB Act) spite of AI, cannot be devoid of humans at least for the time being. Yet, it could be a possibility, like the robot in Osaka University, that AI can rule over the HR department. Banking Frontiers November 2019 3 HOUSING CONTENTS November 2019 Articles .................................Page Banks/Institutions covered ...Page Topics covered ....................Page News Regulator ........................................... 5 McKinsey & Co ............................................10 Blockchain ..................................................... 8 Project Pipeline ............................................ 6 Karnataka Bank ...........................................12 Open Banking .............................................. 9 Blockchain – Singapore............................. 8 Gartner ..........................................................13 Global Banking ............................................10 Open Banking – China ............................... 9 DBS Bank......................................................14 Bank Transition............................................12 Global Banking Review .............................10 Federal Bank ...............................................14 APIs and Security .......................................13 Karnataka Bank Transformation .............12 KPMG .............................................................14 AI in HR Management ...............................14 API security ..................................................13 Mahindra & Mahindra Finance ................14 Mortgages ....................................................21 AI in HR management ...............................14 Mastercard ...................................................14 Digital, phygital ..........................................22 Mortgages – France ..................................21 Ujjivan Small Finance Bank.....................22 CASA.............................................................23 Ujjivan Small Finance Bank.....................22 ESAF Small Finance Bank .......................23 Traditional marketing mediums .............24 CASA focus .................................................23 Fino Payments Bank .................................24 Credit Growth .............................................30 Traditional Media and BFSI .....................24 HDFC Credila .............................................24 SME loans ....................................................32 Banking in Goa ...........................................26 Angel Broking .............................................24 Gold Demand ............................................. 37 Vibrant Goa Summit ..................................28 Utkarsh Small Finance Bank ...................24 Credit Growth .............................................30 Goa Tech Association ...............................28 SME lending ................................................32 Edelweiss Finance ....................................32 IBA HR Conference ...................................34 NeoGrowth ..................................................32 Gold Demand ............................................. 37 Capital Float ................................................32 Research Report-Micro Credit ................38 Capri Global Capital ..................................32 Research Report-General Insurance ....39 Incred Finance ...........................................32 Fingrowth Coop Bank ..............................40 Kotak Institutional Equities ......................39 Veraval UCB .................................................41 Fingrowth Coop Bank ..............................40 Vol. 17 No. 11 March 2019 `75 Pages 44 SocGen’s BrainsWave 2019 4 unique fintechs Shriram General Insurance SUBSCRIBE NOW EShakti www.bankingfrontiers.com BY POST BY COURIER 24 Issues 36 Issues 24 Issues 36 Issues ` 1,500 ` 2,000 Or ` 2,100 ` 2,900 MSME Banking: Thriving on (Please tick the appropriate box) (Please tick the appropriate box) enriched data Name Details for RTGS or NEFT payment: Designation Company : Glocal Infomart Pvt Ltd Company Account No. : 450301010036295 Address Bank Name : Union Bank of India City State Branch Name : Bhavani Nagar, Marol Maroshi Country Pin/Zip Branch Place : Andheri East Phone Mobile Branch City : Mumbai Email Fax Branch Code : 545031 Please find enclosed cheque No. for Rupees IFSC Code : UBIN0545031 Dated Drawn on (Bank) in favour of Glocal Infomart Pvt Ltd (Cheque should be payable in Mumbai, India) Send your cheque to: Glocal Infomart Pvt Ltd D4 - 312, Banking Twin Arcade,Frontiers Military February Road, 2019 Marol, Andheri (E), Mumbai 400059, India Tel: +91-22-2925 2411 l 2925 0166 l 2925 5569 Fax: +91-22-2920 7563 Email: [email protected] Website: www.bankingfrontiers.com N E W S Regulator RBI consolidates supervisory, regulatory departments Pakistan has a new The Reserve Bank of India has consolidated different departments payments strategy involved in the supervision and Pakistan has a new National Payments regulation of banks, non-banks Systems Strategy. The governor of the State and cooperative banks under the Bank of Pakistan Dr Reza Baqir, launched department of supervision and the National Payment Systems Strategy in department of regulation from the presence of president of the World Bank, 1 November. Financial sector David Robert Malpass and key stakeholders supervision was being done by including regulators, government entities, 3 separate departments - the banks and telcos. Baqir spoke about the department of banking supervision, benefits that the NPSS would bring to the department of non-banking supervision and department of